I know you need 50 posts to send private messages. Maybe you need 50 posts to receive them as well??
OMG!! and to think that I spend almost an hour writing this up and it didnāt work!?!?!?!?!?
faint
Thanks Jack! No one else was in the car with me, but the drunk driver that hit me was hurt pretty badly because he wasnāt wearing his seatbelt.
I donāt know what ended up happening to himā¦
I find that when I download the history from MT4, it will auto download 1 min, 5 min, 15 min, 30 min, 1 hour 4 hour, 1 day 1 week 1 month and so on?
and i ran it against the 1 mins by per tick
I knew i didnt have itā¦ lol i see bad but not that badā¦
i checked your EA, and i see you love spaced lines lol. Anyway i didnt find anything like a bug. If in fact it has a bug then you need to debug it line by line 
Hoo and btwā¦ i spent 4 hours writing mine in forst dayā¦ another 2~3 hours these last days debuging it and will spend some more in the future inc ase something needs to be changed. lol working for government and working here isnt much diferent still at least someone could value my work since its for free lol.
Phil, I agree that it will be good to diversify. Though that means more work, and then the EA comes useful.
I looked at E/J for this 09 year, and it performed well. I may play 0.5% + 0.5% G/U and E/J next sunday for sake of non-correlation (I risk 1% per trade my normal practice).
But even if we donāt diversify our crosses, in the long term, it evens out, as we have all said.
G/J looks really speculative, did you backtest? Iām seeing a number of weeks with candles longer than sunday candle i.e. candle that is higher than sunday high, and lower than sunday low, implying a whipsaw stop out.
Pirateboy,
I trade GBP/JPY (not cable) every week and have had good results.
Thereās a catch thoā as Iāve altered the TP rules - I take half at 2R and close the rest at 3R.
No, I havenāt backtested any other pairs yet. I definitely will before I start trading real money on them though.
Phil
Good to see you back, everybody was wondering wishing a good recovery and see you later Oskar
hello s050,
have been wondering a long time - what is the meaning of OSP?
also, just to confirm, the indicator doesnāt work unless you have MT4 on before the sunday candle. for example, if i turn it on now (saturday), no lines are drawn.
also, how did you calculate ATR?
// double ATR = (iATR(Symbol(),tf,period,0))* MathPow(10,Digits);
// if (timeframe==āH4ā)tf=240;
so is the result same if i use the ATR indicator built into mt4, turn on a tf of 4h, and use ATR(240)? (the result is different, donāt know why, I am missing something).
EDIT: I know the answer now: I shld use the 1wk tf, and put the MT4 ATR(14).
Itās different simply because you are using a 4H chart. No matter what amount of time youāre using for the period an ATR on a 4H chart will be the average range during a 4 hour period. We need the average range of the weekā¦
I did some backtesting on EUR/JPY and the results are amazing!!!
I ran through a few different sets of rules since the Sunday candles are so big on that pair and came up with these new rules, which are slightly different from what works best on GBP/USD.
Entries - Same as GBP/USD - 10 pips above/below the Sunday candle.
Stoploss - The opposite entry point. This is NOT the same as GBP/USD! The normal rules are the other side of the Sunday candle, but this is 10 pips past the other side of the candle. This extra buffer is very important for EUR/JPY because of the larger price swings.
Takeprofit - Same as GBP/USD - 1/2 the weekly ATR(14)
Breakeven - 1/4 the weekly ATR(14). 2x the stoploss didnāt work here. That was too high a number because of the large candles.
Here are the results. Keep in mind these are only for this year, and may not hold up over the long term. I havenāt gone back any further than a year yet, and probably wonāt for a whileā¦ It takes way too long to backtest moving from the mouse to the keyboard every 10 seconds with one handā¦
Compounded return rate - 87.6%!!!
R multiple- 34.18R
Win rate - 14 winners, 24 losers = 37% (BEās not counted)
Iām going to trade both GBP/USD and EUR/JPY tomorrow, risking 1% per trade on each pair.
EDIT: If anyone saw these numbers earlier I had a math error and corrected it. Thatās why the numbers dropped a bitā¦ 
Hi Phil,
nice to c u back. I find ur system very interestingā¦ but want to share few of my concernsā¦ I was laid off few months back so back tested some systemsā¦ they work amazingly for few yearsā¦ but then go down when u go back 6-7 yearsā¦ so i wish v could check ur systemā¦ lets say up to 2000 or soā¦ I trade with fxcm and my cnadles are a bit diff then ursā¦ plus I have EST in canadaā¦ and fxcm starts trading at 17:15. but d advantage which FXCM offers is dat even with a micro account they offers u the charts which go back up to 1993!
Reg,
Az
While it is true that I havenāt tested it back any further than 2005, I feel that the 5 years worth of data that we have is enough.
I may be wrong, but I just canāt see how a system like this one could work so well for such a long time and then suddenly stop. This system is 100% adaptable to any market condition. If the markets become more volatile, then the ATR and candle sizes increase, which in turn increases our TP and SL. If the markets start ranging the opposite happens and our TP and SL levels come down to match.
There will be an adjustment period of a month of two before the system adapts, of course, but if youāre using proper money management that shouldnāt be an issue.
In fact, anytime youāre using a system with proper money management you shouldnāt be concerned with your system failing. This was proven recently by the failure of the NickB scalp line system that a lot of us on this forum trade. I traded it profitably for almost 2 years before it started failing. Once I saw there was a problem with the system I first reduced my lot sizes, then when it didnāt turn around I stopped trading it altogether. The money I lost when the system failed was a drop in the bucket compared to what I made during the previous 2 years.
When in comes to Sunday breakout trades I would need well over 100 losses in a row to wipe my account out, and I would need over 25 losses in a row to make me lose all the profits Iāve made with this system since I started trading it. If I got 10 in a row I would stop trading this live, so thereās really no way I can lose. Even if I lose money on the next 10 trades and never see another winner from this system Iād still have made a lot of money from it.
It all comes down to money management. If youāre overleveraging yourself then you need to be afraid of losing streaks, but if you risk a conservative amount per trade then you donāt have to worry about it.
Hi Phil, this is awesome and great work 
Iāve been working on my own backtest (thatās why Iāve been asking about ATR in last post). But I never got down to doing this properly, other than the back of envelope on E/J for 09(which I mentioned in passing), and looked like a hitter even on old rules, but youāve just comfirmed that!
Could you share with me/us, how you went about your back testing, and how you optimised it?
You must have some faster way than me, because just to get ATR, I need to open the 1 wk candle, check the ATR14, go back to 4hr TF (hmmmā¦maybe you opened two MT4 platforms and have 2 monitors?) and ALL WITH ONE HAND!!! 
I looked E/J for May - Jul 08, and I think it wasnāt that great, so I dropped this idea, but Iām relooking at this cross definitely.
Could you also share what the results would be if we used the current G/U rules, without optimisation?
Thanks Phil
Hi Phil838, missed you out here.
So you are not going to trade the NickB Scalp line method any longer? Have you seen the backtesting that MetalHawk just completed on the different G/J TP and SL levels in his blog this week. The work he did was very informative. Metalhawk is planning to take 2 trades for each scalp line, each trade with 2 different TP / SL configurationsā¦so he will basically be trading 2 different systems, I guess to try and smooth the equity curve a little bit. Both Nick and Metalhawk seem to be just as excited as ever even after the recent string of losses, and I know that Nick is circling back to his old ways and has started to trade the E/J again as well (but is not releasing any info just yet).
Anyway, glad that you are back and as usual, I totally agree with your insights shared in these most recent posts. As a matter of fact, I trade every system and method that I trade with the belief that all of them will eventually āfailā, and recognizing that failure is really the biggest discretionary part of my trading outside of recognized what methods to start trading in the first place. As for me, I have not given up on the Scalplines just yet.
I agree and think it is useful to backtest maybe 5 yrs, but not really more than that. the markets were different 5 yrs back. i think as long as there is sufficient liquidity, lots of people trading technicals, and there is no perfect information (as adjusted by news), the tide tends to die down and follow a trend.
Hi Phil, on the stop loss, I agree I hate these āskin of toothā shaves. but I didnāt see this extra 10 pips benefiting the system in 2009. Do you mind to direct me to which Sundays this helped?
Thanks dude.
Itās important to test a large sample size with a 1-2 trade per week system like this. Even if May - Jul 08 sucks it might just be a bad run. For example, if you started with $100 in the first week of May 09 and traded the next three months youād have a balance of $96. Thatās a 4% loss over those 3 months, but the whole year is extremely profitable.
For this round of backtesting I put together a custom indicator to make things faster. I found a daily breakout indicator on Forex Factory, then modified the code and mashed it together with S05ās Sunday breakout indicator. The result looks like thisā¦ Orange lines are entries, blue is BE, and Purple is TP. Using this speeds things up tremendiously.
For the trades where I need to move down to a lower TF I do indeed have two monitors with two different MT4ās running. 
I did get a little lazy this time and on a few of the iffy trades I just marked it down as a loss, even though it may have been a BE or winner. I like for the overall results to be a little conservative anyway, since real trading never goes as smoothly as backtesting.
Hereās my backtesting indicator. Be careful with it though. I threw this together and it works great on my charts, but if youāre using a different timezone or 5 decimals or something else different it might not work right. I didnāt intend it for the general public.
Sunday Breakout Visual.zip (6.66 KB)